Financing ·
On August 21, 2026, Nexalin Technology, Inc. entered into a Note Purchase Agreement with an institutional investor to…
NXLNexalin Technology, Inc.
On August 21, 2026, Nexalin Technology, Inc. entered into a Note Purchase Agreement with an institutional investor to purchase an unsecured promissory note for gross proceeds of $1,000,000. The transaction included an original issue discount of $150,000 and reimbursement of $20,000 in transaction expenses, resulting in a total principal obligation of $1,170,000. The note matures six months after delivery of funds but allows for two three-month extensions with a 7.5% balance increase per extension. Mandatory prepayments are required upon subsequent fundraising, capped at 20% of proceeds or the outstanding balance. Default triggers include failure to pay or fundamental transactions without repayment, carrying an 18% annual interest rate and potential balance increases up to 25%. Nexalin Technology operates in the medical device industry, developing non-invasive neuromodulation therapies for neurological disorders.